FutureBarrel.com

Date added:January 16, 2014
Address/Contact:

2000 – 1066 West Hasting Street
Vancouver, BC V6E 3X2

Website:   www.futurebarrel.com

Background:

In November of 2013, we became aware of the website of FutureBarrel.com (FutureBarrel), an entity that purports to provide an on-line platform for trading crude oil futures contracts.  FutureBarrel purportedly has an office in Vancouver, British Columbia, although it appears that FutureBarrel does not exist at its purported address.
 
British Columbia residents are able to open trading accounts through FutureBarrel’s website.

A futures contract is a legally binding agreement between two parties, under which the seller promises to deliver a specific asset, on a specific future date, to the buyer at a predetermined price.  Futures contracts are considered to be exchange contracts under British Columbia’s securities legislation.

FutureBarrel is not registered to trade in, or advise on, securities or exchange contracts in British Columbia.

We urge British Columbia residents to exercise caution when dealing with firms that are not registered to trade or advise in British Columbia.